Economic development strategy - London Borough of Hillingdon

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HILLINGDON’S ECONOMY, OUR ASPIRATIONS AND OBJECTIVES Hillingdon’s economy, our aspirations and objectives Hillingdon as an economic entity Over the past 12 months key public documents have emerged including the London Development Agency’s (LDA’s) Economic Development Strategy, and the West London Economic Development Strategy (WLEDS). In addition, the Government has launched its new initiative, the Local Authority Business Growth Incentives (LABGI), giving local authorities a financial incentive to maximise economic growth in their boroughs. These developments will influence the economic context in which local economies operate, and have therefore prompted a range of partner agencies to come together to share a vision for the economy of Hillingdon and to develop a strategy and action plan to realise the vision. No sector alone, whether public, private or voluntary, has the power to drive, influence and shape the economy in its broadest sense i.e. incorporating the housing market, transportation, employment, land use, etc. It is therefore felt that a shared sense of ownership is vital not just for the writing of the strategy but in driving through its aims and objectives. To this end 17 partner agencies (see Appendix 1 for details) attended a series of seven meetings over a period of two months to comment on the analysis of Hillingdon’s strengths, weaknesses, opportunities and threats, and the statistical analysis of the economy, to create the vision and influence the shape of the Strategy for a Sustainable Economy in Hillingdon. This document draws together the work of the partners and recommends a series of economic actions to capitalise on opportunities, develop strategic leadership, promote partnership working and realise the strategy’s vision. The recommended actions will be used to direct the annual Delivery Action Plan. Strategic links The strategy has been developed in the knowledge that the borough’s economic vision will continue to be tempered and influenced by wider external factors, for many of which there is limited local power to influence or change but whose impact on this borough would be huge e.g. Heathrow Third Runway, Cross Rail, the Olympics etc. In developing a united vision for the future of the borough, it is hoped that local concerns can be more clearly articulated and action taken to capitalise on emerging opportunities. In light of regional and sub-regional strategies with a direct influence on economic activity, in particular the Sub-Regional Development Framework and the West London Economic Development Strategy, it has been vital for the strategy to be developed in partnership with sub-regional strategic organisations. To this end the strategy complements other regional, subregional and local strategies including the Hillingdon Local Development Framework and Hillingdon's Community Strategy. Key targets from these strategies are attached as Appendix 2. In moving to implement the strategic recommendations, it will be advantageous to work in partnership with neighbouring boroughs to tackle issues holistically and maximise resources available. Future partnership action Hillingdon’s Local Strategic Partnership, known as the Hillingdon Partners, aims to use its authority and strategic influence to facilitate partnership working. This approach will enable greater focus in the use of resources and create an infrastructure that will achieve a sustainable, inclusive and economically prosperous borough. The range of partners engaged in this process has been extensive and given the opportunity presented by their diversity and commitment, it is intended 3 HILLINGDON’S ECONOMIC STRATEGY FOR A SUSTAINABLE ECONOMY 2005-2015 - A PROSPEROUS BOROUGH
HILLINGDON’S ECONOMY, OUR ASPIRATIONS AND OBJECTIVES that they become constituted as the Economically Prosperous Theme Group of Hillingdon Partners with responsibility for driving the Delivery Action Plan and realising the vision. Time frame This strategy sets the vision for a sustainable economy for the next five to ten years. The accompanying Delivery Action Plan will be the tool by which the Hillingdon Partners Theme Group can plan and measure performance. The Delivery Action Plan will complement this strategy, turning aspirations into meaningful projects and actions by detailing targets for the following two to three years. Aspirations for the local economy The partnership identified the following aspirations, which have underpinned the development of this strategy and its objectives: Economic development – The borough will strive for economic growth and thriving businesses that trade within and outside the borough, without which current economic development activity is unsustainable. Businesses earning income from outside Hillingdon create employment opportunities for local people thereby adding net value to the local economy and as such these businesses should be encouraged/supported by this strategy. Inclusion – Hillingdon should capitalise on the strength of the local economy and the predicted future shortfall in both the quantity and quality of employees, as the catalyst to removing barriers to economic inclusion and to addressing the needs of adults in low-skill/low paid employment, disaffected young people and those far removed from the labour market. Sustainability – There is a need to encourage and support participants in the Hillingdon economy to think global and act local; improving the environment, conserving natural resources including air quality, and distributing the benefits of development equitably. Resources – Understand the importance of good resources that enable businesses to operate efficiently and competitively. Explore opportunities and partnership ventures to optimise natural/financial resources, generate economies of scale and add-value to existing practices. Resources include: • skilled workforce. • entrepreneurial flair. • land. • transport infrastructure. • environmental quality (technical and amenity). Strategic influence – Hillingdon Partners should advocate a balance between land uses in the borough, to create a borough where people want to work, live and participate in recreation. Recognise that the route to achieving this will include active involvement in regional and subregional partnerships. Partnership – Hillingdon needs to work to integrate local employers in realising the strategic vision through quality communication and collaborative working. Recognise the important role which partners within the voluntary and community sector play both in the local and sub-regional economy and in improving the quality of people’s lives. HILLINGDON’S ECONOMIC STRATEGY FOR A SUSTAINABLE ECONOMY 2005-2015 - A PROSPEROUS BOROUGH 4
Page 1 and 2: A prosperous borough Hillingdon’s
Page 3 and 4: Contents Foreword Hillingdon’s ec
Page 5: Hillingdon’s economy, our aspirat
Page 9 and 10: Key economic opportunity areas © C
Page 11 and 12: Transport and Heathrow
Page 13 and 14: To Watford Rickmansworth Moor Park
Page 15 and 16: TRANSPORT AND HEATHROW Transport: A
Page 17 and 18: TRANSPORT AND HEATHROW Heathrow: Ac
Page 19 and 20: EDUCATION, EMPLOYMENT AND THE KNOWL
Page 27 and 28: EQUALITIES Equalities issues The pr
Page 29 and 30: HILLINGDON FOR BUSINESS AND THE HIL
Page 35 and 36: Housing, environment and quality of
Page 37 and 38: HOUSING, ENVIRONMENT AND QUALITY OF
Page 39 and 40: APPENDIX 2 Table illustrating the l
Page 41 and 42: APPENDIX 3 A prosperous borough Act
Page 43 and 44: APPENDIX 3 A prosperous borough Act
Page 45: Translation service Obtaining infor

Economic development strategy - London Borough of Hillingdon

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